Apogee amends revolver, pushing out maturity and lifting size

By Sara Rosenberg

New York, Oct. 22 - Apogee Enterprises Inc. amended its secured revolving credit facility, extending the maturity to October 2017 from January 2014 and increasing the size to $100 million from $80 million, according to a news release.

Wells Fargo Bank is the administrative agent on the deal.

"The expanded credit facility, along with Apogee's strong balance sheet and expectations of improving free cash flow, position us to invest in growing domestically and internationally. We plan to invest in new capabilities and new capacities, as well as to fund acquisitions," said James S. Porter, chief financial officer, in the release.

"In addition, with Apogee's improving financial performance and the current attractive financial markets, we were able to refinance our revolving credit facility at better terms," Porter added.

Apogee is a Minneapolis-based designer and developer of glass products.

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